Barbara Corcoran, the founder of the Corcoran Group and an investor on “Shark Tank,” has purchased a penthouse at 1016 Fifth Avenue for $16 million, according to public records. The transaction appears to have taken place off-market and comes shortly after she acquired another penthouse nearby.
Corcoran was represented in the deal by Carrie Chiang of Corcoran. According to Chiang, Corcoran paid the full asking price for Unit PH-W. The property’s previous sales history is not clear, as city records do not show a prior sale since digital record-keeping began. The last available document is from 2007 when ownership was transferred to a trust.
Chiang explained that she learned about the penthouse before it was officially listed while searching for properties that matched Corcoran’s preferences, specifically in the 80s along Fifth Avenue. “Barbara knows what she wants,” Chiang said. “Once she saw it, she said, ‘Carrie, I’m not going to lose this one.’”
The apartment features three bedrooms, formal dining and living rooms, a library, and a terrace. Chiang described the unit as having tall ceilings and many original details. She noted that Corcoran intends to move in soon and may undertake minor renovations next year.
The building at 1016 Fifth Avenue was constructed in 1926 and includes amenities such as a 24-hour doorman and elevator service for its 56 units. “It’s absolutely the best penthouse I’ve ever seen,” Chiang said. “She’s so happy there.”
Serena Boardman with Sotheby’s International represented the seller.
Earlier this year, Corcoran sold her previous residence at 1158 Fifth Avenue—Unit PHB—for $13.5 million, which was $1.5 million above its asking price. She found a buyer just one day after listing it in May. That duplex featured five bedrooms and a terrace with a glass-enclosed dining area.
Corcoran had stated at the time of her previous sale that she and her husband Bill Higgins were seeking another Upper East Side apartment without a curving staircase due to mobility concerns; Higgins is now 80 years old while Corcoran is 76. They originally bought their former home for $10 million in 2015 and invested about $2 million into renovations before selling it after ten years of residency.
